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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

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FORM 8-K

 

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CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED)

May 9, 2005

 

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RAYONIER INC.

 

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COMMISSION FILE NUMBER 1-6780

 

Incorporated in the State of North Carolina

I.R.S. Employer Identification Number 13-2607329

 

50 North Laura Street, Jacksonville, Florida 32202

(Principal Executive Office)

 

Telephone Number: (904) 357-9100

 

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Check the appropriate box below if the form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

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RAYONIER INC.

 

TABLE OF CONTENTS

 

				PAGE
Item 8.01		Other Events		1
		Signature		2

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ITEM 8.01 OTHER EVENTS

 

On May 2, 2005, Rayonier Inc. was awarded $16.2 million in connection with arbitration proceedings against ITT Industries, Inc. (as successor-in-interest to Rayonier’s former parent ITT Corporation) over the distribution of environmental litigation insurance recoveries. On May 3, 2005, ITT Industries filed a petition to vacate the award. As a result, the timing and amount of any ultimate award recovery are uncertain at this time.

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

May 9, 2005

 

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